- WM Technology ( NASDAQ: MAPS ) stock fell more than 20% after reporting Q3 results .
- The company said sales will drop in Q4, citing current business trends and conditions.
- Revenue to fall by a low double-digit percentage vs. consensus decline of 8.80% and provision for doubtful accounts to remain elevated in the fourth quarter.
- The company's co-founder and executive chair Doug Francis will take over as chief executive, succeeding Chris Beals, who has decided to step down as CEO and from the board.
- Mr. Francis previously served as CEO of the company before Mr. Beals took over.
- The stock is down around 77% this year.
For further details see:
WM Technology stock dips on weak outlook